Cryptocurrency & Real Estate

August 31, 2018 William Franklin

Real Estate & Cryptocurrency

Buying property with cryptocurrency may be somewhat of a new concept, but it is becoming more common. It is also becoming the choice method for many sellers and buyers. But before you dive into the cryptocurrency market to buy or sell a home, there are a few important things you should know. Be sure to talk with your local Realtor to see if they work with cryptocurrency to make your home buying or selling as seamless as possible.

Do Your Research

Cryptocurrency takes some education and research to get more familiar with it. You will want to get comfortable with the market. You want to understand all of the risks involved and how it all works exactly. You can get some great hands-on practice through Coinbase and Binance which are verified exchanges. This way you can get to know how digital money works before getting into larger investments such as the buying and selling of real estate.

Escrow

Escrow is another area that you will want to get comfortable with as it can be somewhat complicated. You can either convert your cryptocurrency to cash or use crypto-to-crypto transactions. If you want to convert your crypto to cash, it is much like a regular cash transaction. It is ideal to set up the escrow with a crypto payment processor which will convert any cryptocurrency to a USD wire transfer. For a crypto-to-crypto transaction, you should work with a title company that is familiar with blockchain technology.

A New Way to Complete a Property Transaction

Blockchain technology is still quite new, but it is becoming much more widely used. It is predicted that it will eventually be used as the standard for all transactions. At this point, it does have a few challenges though. Many have the idea that it is fake money and many sellers would prefer not to deal with it but not everyone.

Cryptocurrency can be quite volatile, and that can be burdensome to the buyer. If you are using cryptocurrency in a property transaction, you should use the price of the house in fiat to set the standard. You will also need to have the right working records in the contract on how the crypto will be settled after the escrow. This will ensure that you are well protected. If the transaction seems just too good to be true, then it is most likely true. Cryptocurrencies have the potential to be hacked, and it is a good idea to get educated in the area of anti-money laundering and get to know your customer as best as you can. Just like any transaction you want to make sure that you are protected and aware of all scenarios-good and bad.

It can be harder to trace money that is no good in Bitcoin and other cryptocurrencies. It never hurts to be very cautious. Verify all parties involved and do your homework. Despite all the hurdles that can come with cryptocurrencies there are also many great benefits as well.

More and more homes are being listed with a Bitcoin price tag attached. Other sellers have asked that payment is made in both US dollars as well as in Bitcoins. This trend seems to be picking up as well and doesn’t look like it will go away anytime soon. This is a tactic that is proving to be successful, and many sellers have enjoyed big returns and are looking for ways to keep those gains in their real estate assets.

Many entrepreneurs are also incorporating digital currencies into property transactions by creating new tokens and currencies for trading, buying, and selling. They are also being created for investing.

The Many Benefits of Cryptocurrency in Buying and selling Property

The advantages of using cryptocurrencies in the buying and selling of property in the market are many. First off there is privacy when making a purchase, and it is much easier to make transactions overseas. There are liquidity and a reduced cost. There are no taxes on transferring property rights, and it is much easier to balance the security of traditional real estate with the flexibility that it offers.

A Great Way to Buy and Sell

If handled the right way cryptocurrency can be a great way to buy and sell a property. It can be more convenient, and it’s going along with the direction that the market is headed so it can be a great advantage if you get familiar with it now and hone in on your cryptocurrency skills. It never hurts to learn a new skill or two and to get the right people in your corner. Then when it hits big, you will be well prepared. Cryptocurrency makes it possible to buy a home from anywhere in the world. For more information about purchasing real estate using cryptocurrency, consult your local tech savvy real estate professional.

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Is 2018 Going to be a Good Year for Real Estate?

May 23, 2018 William Franklin

Is 2018 Going to be a Good Year for Real Estate?

Real Estate for 2018: Is It Shaping Up To Be another Record Year?

As we got into a politically tumultuous 2017 many people expected that real estate trends would shift downward in a significant fashion – they held off from getting into the real estate market so that they could see how things worked out. They were in for a surprise – the real estate market in the last two years has been rather stable. In fact, there has been a boost in construction which means that for the time being it is a buyer’s market. So is it a good idea to buy or sell?

Real Estate is Local

It all depends on where you are. If you are looking to buy it is important to analyze your situation carefully. While some cities in the United States are attracting buyers, there are others, like Boston where many young people are choosing to rent their homes because buying is simply out of the question – the real estate market is that strong. However there are others where buying a home at this time is an excellent idea – there are plenty of properties in the market which means that there are many buyers who are willing to offer favorable terms in order to offload their properties.

That doesn’t mean that you should jump straight in without considering other important factors. Location matters – you may get an excellent deal on a property, but if you want to offload your property sometime in the future then you should carefully think about whether that will be possible given the current trends – true, you can never predict what will happen in the coming years, but there are markers that can give you an indication.

Interest Rates Affect Demand

You should also think about the kind of interest rates that are available to you. The rate you pay for your mortgage ultimately has a major affect on what is paid for housing. You may get such a good deal on a property that you don’t stop to think about what interest rate your lender is offering you. If you don’t do your math right you may end up paying tens of thousands of dollars in mortgage payments over the years because you chose to go with a loan that had a bad interest rate. You are better off with a property that has a high price tag but affordable repayments than one which is cheap but has a high interest loan. Although we have been in an environment of historically low interest rates, many experts expect 2018 to see a rise in mortgage interest rates.

What Do The Pros Say?

Research Your Market

While your Realtor is invaluable for the process of buying a home in the coming year, it doesn’t mean that you rely on him blindly. You need to do your homework and know what the real estate market has to offer where you want to buy, and what kinds of mortgages are available. You shouldn’t rely just on “reliable” sources of real estate information – some of them are not as reliable as they claim to be.

You should read widely and look for information in unlikely places – it is there that you often find gems. Make sure that you have a real estate lawyer in your team as well as a professional appraisal expert – they will ensure that you get the best value for your money.

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Activities in Boston MA

February 20, 2018 William Franklin

Moving to Boston? Must Do Activities for You and Your Family

Boston MA is one of America’s oldest and most popular cities. There is always something to do in Boston. With the real estate booming and properties that are being sold dealing with bidding wars – finding the right property may be a little bit of a challenge. But once you get settled you will want to take advantage of everything Boston has to offer. We wanted to provide a handful of activities that you and your family may want to do.

Activities in Boston MA

Fenway Park

Heard of the Red Sox? This is their home, and it is a must-see for anyone who is coming to Boston for the first time. Built in 1912, it has been home to many a home run, stolen bases and grounders. Make sure that you visit Pesky’s Pole, named after Red Sox player Johnny Pesky, as well as the Green Wall Monster. If you are a baseball fan go between the months of April and October.

Boston Common

The Boston Common has a long history. It started off as grazing grounds in the 1600s, but overgrazing became a problem and the area was transformed into a camp for British soldiers. After the Revolutionary war the camp was used to give addresses to the public. Today, it is reputed to be the oldest public park in the United States which hosts a variety of activities and events throughout the year. It is a great place to take your family for a picnic or a day of play and relaxation.

Freedom Trail

The Freedom Trail is a two and a half mile trail that threads through the city’s historical buildings such as Faneuil Hall Marketplace, the Paul Revere House and Old North Church. Don’t be deceived by the length of the trail – it takes a whole day to make it through all the attractions. You will learn a lot about Boston’s history by taking this tour.

Boston Public Garden

This one is next to the Boston Common so you can plan to tour both sites on the same day. It was established in 1837 and it is America’s first botanical garden. There are beautiful arrangements of trees and flowers, as well as a lagoon that is navigated on a Swan Boat. It is a great place to relax after a long day exploring the city.

Isabella Stewart Gardner Museum

When her husband died in 1898, Isabella Stewart Gardner bought a piece of land in the Fenway area and built a museum so that she could display her collection of Italian art. It was designed just like the Palazzo Barbaro in Venice and it is home to famous works of artists like Raphael and Titian. You will also see lots of photos, furniture, sculpture and rare art.

Boston Museum of Fine Arts

This one is one of the oldest art installations in the country and if you are an art enthusiast you should set aside a whole day for it because there is a lot to see. It is one of the biggest and best art collections in the world, with 53 galleries showcasing different kinds of spectacular art.

Faneuil Hall Marketplace

This one is comprised of four buildings – Faneuil Hall, Quincy Market, North Market and South Market. Built in 1742 and now located on the Freedom Trail, Faneuil Hall has had a long and important history in Massachusetts politics. Samuel Adams once stood here to push for resistance against the British, and abolitionists and suffragists have stood on their soapboxes here.” Today it is home to more than 100 stores and restaurants.

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There is Something for Everyone in Boston For the Holidays

January 3, 2018January 3, 2018 William Franklin

There is Something for Everyone in Boston

There are so many things to do and see in Boston for the entire family. In fact, there is nothing like celebrating the holidays in Bean Town with your friends and loved ones. From holiday shopping and sightseeing to enjoying gourmet meals and desserts, there are so many ways to enjoy the Christmas holidays. In fact, the city also features horse carriage rides for one and all. This is truly an amazing way to experience the true allure and essence of the holidays. After visiting, you will get an idea why the Boston real estate market is booming! Here are some of the top things to do in Boston during the Christmas season.

Ice Skating

Nothing says the holidays more than ice skating at a local rink. From Boston to Cambridge, there are several ice-skating venues for the whole family. These rinks feature indoor and outdoor venues, along with hot chocolate stands and other kiosks. Enjoy the spirit of Christmas with your family and friends as you skate the day away with carols and great music. You and your loved ones are guaranteed hours of non-stop fun and entertainment. There are also hot roasted peanut vendors, along with hot dog stands and so much more. Here are some of the top rinks for tourists and locals alike:

Frog Pond
Boston Common – Frog Pond and pee wee rinks available.
City Hall Plaza
Beacon Hill rinks

Ice skating is a great way to have fun and relax after a day of holiday shopping. In fact, these rinks offer perfect views of Beacon Hill and the Boston Harbor. They are also situated within festive lights and decorations as far as the eye can see!

Boston City Lighting Ceremonies

The annual holiday lighting ceremony at Boston Common is also a must. In fact, this is what officially kicks off the holiday season in Boston, with many Boston brands represented. This year will be no different when Mayor Marty Walsh flips the switch on the city’s amazing Christmas tree. This will result in over 80 trees being illuminated with festive and sparkling lights. The Christmas tree is an annual gift given to Boston by the Nova Scotia and supported by local Boston businesses. This tradition dates back to 1961 – which commemorates the help given by Boston citizens after the 1917 explosion of a ship in Halifax Harbor.

The tree-lighting ceremony will occur at the start of December. However, check Google to find out the exact date of the event. You can also visit the Holiday Tree Lighting Ceremonies schedule at the Boston City Government website online. Expect to have fun and party with over 1 million people that will attend the lighting ceremony this year.

Boston Ballet Shows and Festivals

The Boston Ballet is another great place for the entire family. In fact, this warm and entertaining refuge hosts a myriad of sports events, shows, and festivals each year. The Boston Ballet is proud to feature the following holiday events for all tourists and locals alike:

The Nutcracker
Holiday Pops
Disney on Ice

Simply check the Boston Ballet website for showtimes and tickets. They also offer great deals for seniors and kids, along with substantial discounts for military veterans. Similarly, you can access a range of group and holiday ticket specials at their site as well. If you love live entertainment and music with a touch of class, go no further than the Boston Ballet.

Bus – Carriage – Trolley Tours

How about a fun-filled and exciting tour of Old Boston? There are several bus, carriage and trolley tours for the entire family. In fact, this is truly the best way to explore the city like a Boston Realtor with all your friends and families. These tours can be booked online – including charter bus group tours, along with trolley tours which are educational and entertaining. Here are some of the top sights and points of interest these tours guarantee:

Downtown Boston
Beacon Hill
Boston Bay Harbor
Museum of Fine Arts
Fenway Park
Newbury Street
Old North Church
Paul Revere House
New England Aquarium
Back Bay
And much more.

These tours also feature complimentary beverages and snacks for patrons. All units are handicap accessible with multiple tours running daily. From the Boston Public Library to the Children’s Museum, there are so many holiday events planned this year. As always, you will find Santa Claus on practically every corner of the city collecting toys and funds for the Salvation Army.

Holiday Cruises from Boston Harbor

The Boston Harbor features several holiday cruises for the whole family. In fact, the popular Northern Lights yacht is the perfect way to sail the harbor and enjoy Christmas. This fully-enclosed, 1920s-style luxury yacht features a full range of amenities. You and yours will love exploring the harbor, while taking in all the amazing skyline views and picturesque backdrops. These scenic tours include the following:

Irish Christmas Carols Cruise – enjoy the Boston Harbor while singing famous Christmas carols from the Old Country.
Holiday Jazz Cruise – from Louis Armstrong to Count Basie, enjoy all your favorite jazz classics and live music. All cruises feature tasty beverages and snacks, along with sparkling and festive holiday lights and décor.
Cocoa & Carols Holiday Cruise – live music, fun, and entertainment for all families and corporate guests.
1- Hour Inner Harbor Cruise – explore the Boston Harbor and Bay like no other. See the charter fisherman and take in all the sights and sounds of the holidays!
Breakfast Pastries Cruise – how about enjoying your favorite holiday pastries and treats while touring the Harbor by day or night? This cruise has received stellar reviews and is simply a must!

Boston Holidays

There are so many things to do in Boston for everyone. No truer is this than when it comes to the holidays with seasonal celebrations that rival even New York! Whether you are a local or are planning to visit, or looking to purchase a luxury home in Boston, you can browse online for all the Christmas and other Holiday events going on in and around the city. You can also contact the city tourism board to get a full listing of all holiday events in Greater Boston!

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Traveling to Wilmington NC?

September 1, 2017April 5, 2018 William Franklin

Traveling to Wilmington NC?

If you are looking to visit a city that not only has a ton of history – but some of the coolest suburbs in the country, you need to visit Wilmington NC. Wilmington has everything from history to beaches to some of the newest, most advanced new businesses in the country.

Wilmington is surrounded by water – with a variety of unique areas, all within driving distance of the Historical Downtown area. Starting with the famous Cape Fear River running through the center of Wilmington, to the sandy beaches of Carolina Beach to the natural waterfront of Kure Beach and Hampstead, there is something for everyone in Wilmington.

Places To See On Your Trip To Wilmington NC

Although Wilmington itself has a ton to see, there has been quite a bit written on visiting Wilmington. Our goal here it to point out some of the places that are easy to get to, while visiting Wilmington NC, that you may not otherwise hear of. All of the cities below are easy to get to and not a far drive in a rental car to visit. Each has its own character and style and reason to visit.

Carolina Beach

With their famous boardwalk, which commonly has has music, fishing, festivals and a multitude of events, Carolina Beach is a “must visit” if traveling to Wilmington. Don’t forget the beaches! With scenic white sand beaches as far as the eye can see sporting mulitple public piers and walking trails.

The bar scene in Carolina Beach is lively. With tiki bars to blues clubs, if you are looking for a great night out, they have you covered. Great restaurants with a focus, you guessed it, on sea food. For a place to sleep, you should be able to find a waterfront home in Carolina Beach with no problem for a reasonable rate.

Kure Beach

Kure Beach is another place to stop by if you are in Wilmington. Kure Beach has many site seeing attractions such as the NC Aquarium and the Fort Fisher Civil War Museum. The city has a multitude of shops and restaurants. With a number of white sand beaches to choose from, you can experience them via bike or car. Kure Beach also sports its own popular boardwalk for just another way to enjoy the sunset while gazing over the Atlantic Ocean.

Kure Beach is a very family oriented city with multiple bed and breakfasts as well as family owned shops and restaurants. This makes it easy to find a short term, daily rental home. Many people choose Kure Beach for a second home or vacation home because of its family oriented, slow atmosphere.

Leland NC

If after all of the beaches, are ready to visit more of a “country setting” Leland is your spot. With multiple parks and a thriving recreational department, Leland is a great place to sit back and enjoy nature. One of the parks even features an extremely popular Movies in the Park experience. Technically part of the Myrtle Beach Metropolitan area, it is still not a bad drive from Wilmington. Featuring a small town charm, many people choose to make Leland their home base when traveling – because of its location. Being centrally located between the two tourist areas of Myrtle Beach and Wilmington makes it a great place to book a home and travel out to the more touristy destinations.

Wrightsville Beach

We have traveled to the white sand beaches, boardwalks and the slow town, now lets move to an island! Wrightsville Beach is one of the endured islands along the Carolina coastline. With its location being only a hop, skip and a jump from Wilmington, its another must see location. On your way there, make sure to have your camera ready since to get there from Wilmington, you get to cross a draw bridge. With tons of music, a great public pier, many watersports and awesome food, its worth the short drive. Because you are on an island, with scarcity of land, the homes for sale in Wrightsville Beach are some of the most expensive in the area with prices exceeding $500 per square foot!

Hampstead NC

Hampstead is the last place you need to visit if you find yourself in Wilmington NC. Located between Wilmington and Jacksonville its worth the trip. Hampstead is considered part of the Wilmington and has a population of less than 5,000.

For many people trying to visit the greater Wilmington area on the cheap, getting a house in Hampstead may be your best bet because of its proximity to Wilmington and plethora of vacation rentals on AirBNB – having Hampstead as your home base can substantially reduce your travel spend as opposed to one of the upscale hotels in Downtown Wilmington.

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Fuel Your Travel Business With An Unsecured Business Loan

June 26, 2017June 26, 2017 William Franklin

Fuel Your Travel Business With An Unsecured Business Loan

Is your Travel Businesses will be seasonal in Nature?

Many Travel Businesses will be seasonal in nature, with sometime drastic swings in their sales. Most banks will consider such a business to be too high of a risk to lend to. There are certain non-bank alternative lenders that do see the value in businesses like this and have designed loan strategies around the nature of businesses with such seasonal swings.

Unsecured business loans are available for amounts ranging from $10,000 to $250,000 or more. The repayment period of the loan vary from 6 months to several years depending on the amount of loan a borrower wants and his or her credit history. Unsecured Business Loan is best suited for short term and cashflow needs.

Apply for an online unsecured business loan can save your time and money. You just need to complete small application form online and the lender will get back to you with the appropriate loan option.

A few advantages of getting an Unsecured Business Loan for your business are:

Retention of the Ownership– An entrepreneur can retain the current ownership in his company instead of raising funds by selling interest in his company to an outsider.
Cash Flow management- Unsecured business loan provides borrower an access to capital with minimal up-front payments and the flexibility to design a loan repayment schedule suitable to your finances.
Tax Advantage- Interest on the loan is tax deductible. Thus, can help in saving hard earned money of the borrower.

Businesses with cyclical sales patterns will need to show the sales pattern over the last 2 years typically as the lender will need to see the fluctuations so they will know what to expect. Small Business Lending is all about offsetting risk and by knowing what to expect, the risk can be understood and planned for. For this reason, when you have a seasonal business, you will generally need to have at least 2 years of business history to demonstrate the businesses ability to repay the Small Business Loan.

You need to understand the fact that the lender is entitled only to the interest on its loan. You are not liable to pay any percentage of the profits or a share in the company that an investor would expect.

Unsecured business loans are designed specifically for businesspersons to finance their need for capital expansion of a business or assist with cashflow needs. The funds from an unsecured small business loan can be used for any business related purpose and can be paid back at any time prior to the agreement termination. Be aware, if you do pay it off early, you may be able to waive any prepayment clause if you are refinancing the loan into a new and larger loan with the finance company.

The best thing about an unsecured business loan is that it does not require a borrower to put a security against the loan. Thus, the borrower’s property is not under any risk of repossession. Because of the higher risk, you will need to expect to pay a higher interest rate than you would if the loan were secured by company or personal assets.

Below, you will find a video to give some more information on Secured and Unsecured Small Business Loans.

Interested in an Unsecured Small Business Loan for your company? My recommendation is to see IMMFinancial.com, they have many options for you.

Remember: A good credit history is always useful while applying for a loan. In case of an unsecured business loan, absence of collateral makes it necessary for a lender to identify the credit or recognize worthiness of the borrower to avoid any default by the borrower in the future. Higher the credit score, higher is the possibility of getting a fast and lower cost loan, so work on your credit score and you will see it doing wonders for you.

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Traveling to Venice La

June 21, 2017April 11, 2018 William Franklin

Traveling to Venice

Venice La is one of those little treasures that most people never think of visiting. Venice is located at the very tip of Louisiana and is a town of approximately 200 people. Although one of the smaller towns in Louisiana, everyone in the state has heard of Venice.

Located in Plaquemines Parish, Venice La is known as one of the best charter fishing destinations in the United States. People travel from all over the Southern states and some even father to charter an offshore fishing trip and have the time of their lives. With charter boats going out of Venice daily, traveling out to the oil rigs to catch huge tuna.

Close to New Orleans

Many people who travel to New Orleans – as part of their vacation, want to take advantage of the offshore fishing experience. With Venice only being a short trip away – almost every offshore fishing trip is chartered out of Venice. Because some of the the fishing excursions don’t get back to shore until late, there are a handful of fishing camps and other lodges in Venice.

Venice After Hurricane Katrina

Hurricane Katrina was a devastating event for all of Southern Louisiana. Although the devastation of New Orleans made nationwide news, very little was said about Venice. With the location of the small fishing town being at the Southernmost tip of the state – the entire area was decimated. Since Katrina, the area has recovered quite well with the fishing industry leading the way.

Venice After The Oil Spill

You would think that Hurricane Katrina was enough for the small town but it wasn’t long thereafter that Venice was once again hit with another disaster. This one was not a natural disaster such as Katrina, but a man-made disaster. On April 20th, 2010 The Deepwater Horizon exploded causing the BP Oil spill. With fishing being the economic engine of Southern Louisiana, especially Venice, many feared the worse. Although all of the indirect consequences of the oil spill are still not known, the fishing has returned to Venice LA in full force.

Cooking in Venice LA

Because of the massive fishing industry out of Venice, just as you would expect, you get some of the best seafood in the world right there. The freshest seafood, coming right off of the fishing boats – coupled with the Creole/Cajun cooking of Southern Louisiana, comes together to simply have some of the best food imaginable.

Visit Venice

With New Orleans being one of the most flown into cities in the United States, if you make your way down to the Big Easy, you really need to take a quick trip to Venice. Make sure to book your charter before you go as many of the fisherman are booked weeks or months in advance.

Map of Venice Fishing

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The Best Real Estate Schools Offer Additional Courses

June 16, 2017June 16, 2017 William Franklin

Go to the Best Online Real Estate Schools

As someone who wants to get into selling real estate you may think that you only need to go to school so that you can get a real estate license. While this may be true it is not enough. If you want to be at the top of your field, if you want to impress clients and make as much money as you can you need to be abreast with the latest developments in the real estate field at all times and the only way to do this is to enroll in a variety of different real estate courses.

NAR Sponsored Designations

The National Association of REALTORS offers many certifications. These are courses provided by NAR – which give a level of specialty. Some focus on buyer representation, while others focus on investment properties or purchasing land. They have a NAR designation for Residential Specialist as well as Commercial Investment and Property Managers.

Additional Real Estate Courses

These are courses that are designed differently from the core curriculum of the real estate course. They are meant to supplement it by providing you with knowledge that will keep you aware of what is happening out in the real world. There are many things you can learn. The changing economics, for example, affect real estate all the time. Something like Brexit, which seems to be a primarily European event, affects real estate markets because it affects exchange rates, but in order to understand how exactly it will affect real estate markets in the future you need to do more than read a few articles – you should enroll in a course that tackles the subject of how changes like these will affect how you make money in real estate and also how your clients are affected and how you can help them.

Real Estate Continuing Education

The best way to get this kind of real estate CE is to find up to date online real estate courses. Looking around you will find that there are many, but you have to be careful about the ones that you choose. Find courses that are delivered by the best real estate schools. The course material should be prepared by veterans in the field of real estate, individuals who have successfully had careers in real estate, but who are in touch with everything that is happening around them.

What to Look For in a Real Estate School

The courses should allow you access to your real estate instructors when you need them so that you can have any nagging questions answered. Many real estate schools offer not only live but online classes too. They should also have chat rooms where students can meet for discussions. At the end of each course you should be able to sit for an exam and get diplomas and certificates to back up your participation – they will go a long way in helping you climb the career ladder. Lastly, compare course costs before you enroll – there are many top quality courses that are affordable.

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The Truth About Reverse Mortgages

February 6, 2017February 6, 2017 Mike Anderson

The Many Misconceptions About a Reverse Mortgage

(HECM) It is amazing how the reverse mortgage has received some misguided information over the years, well I’m here to clear the air about this wonderful product for people 62 years old or older.

What is a Reverse Mortgage?

The reverse mortgage is a federally insured loan product backed by the Federal Housing Administration accessible to homeowners 62 and older. These reverse mortgage loans allow senior citizens to tap into a portion of their equity to help supplement retirement income completely TAX FREE. The best part is the borrower has NO monthly mortgage payment. The borrower(s) must maintain property taxes, insurance and maintenance of the home.

Here are some of the most common misconceptions

The bank owns your home, this is false. The borrower remains on title as the owner

My spouse can be thrown out of the house if one of us dies, once again not true. The surviving spouse still remains on title of the home and nothing will happen to the terms of the reverse mortgage

My children will get stuck with the loan and will have to start making payments or the bank will foreclose and go after the children (Heirs), The reverse mortgage is a nonrecourse loan which means the property is the ONLY collateral for the loan. When the last remaining person on the reverse mortgage dies the children or heirs have three choices:

They can refinance the loan into their names
They can sell the property or
They can turn the keys over to the bank.

In option one and two they have initially 6 months to accomplish these choices and can be extended for more time.

A Reverse cannot be used to purchase a home, the reverse mortgage can also be used to purchase a home with at least 50% down payment and still have NO monthly mortgage payments.

Your home must be free and clear to qualify, you can actually refinance your existing mortgage into a reverse mortgage, the rule of thumb is at least 50% equity in the property.

In Closing

In closing the reverse mortgage helps hundreds of thousands of senior citizens stay in the home they love, downsize to a smaller home or simply supplement their monthly income by receiving a monthly tenure and even having a line of credit to tap into TAX FREE instead of withdrawing funds from their retirement account(s) and paying Federal and State taxes. It is best to deal with a LOCAL reverse mortgage specialist who can sit down with the clients and guide them through every step of this wonderful product. Bottom line is DO NOT be afraid of the reverse mortgage..

Written By Mike Anderson CRMS

A Quick Video on Reverse Mortgages

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The Hidden Costs of Home Ownership

January 5, 2017December 8, 2017 William Franklin

Costs to Homeownership You Might Not Have Considered

So you’re considering buying your first home—searching all over the real estate websites such as Zillow and Remax — that’s great! I’m sure you’ve already put a lot of thought into the big investment of purchasing property. But what you might not have considered when searching the internet for homes for sale is all of the expenses that owning your home includes (things you might not have had to worry about as a renter or couch-surfer). The full, monthly cost of home ownership is more than just the price of the home itself.

I know you already know about the down payment and interest and inspections and insurance. But here are some hidden costs that you might not have considered for after you sign those papers and get those keys:

Utilities.

It was nice when you wrote one check to your landlord every month and didn’t have to worry about a thing. But with a home, you have to pay all of your own utilities: electricity, water, sewage, gas, cable, internet, security system. That can all add up! Talk to your realtor or your new neighbors to get estimates on pricing and recommendations on what companies to use (or those to avoid).

Cost of Home Ownership

Home maintenance/repair.

Remember when the toilet broke and all you had to do was text your landlord? Well, now you’re the landlord and you have to get the plumber or buy a new toilet. Roofs, gutters, plumbing, wiring, A/C and heating systems—all these things not only need to be properly maintained, but they also can break or malfunction, which can lead to you dealing out so serious cash.

Appliances.

Okay, so you may have worked it out with the previous homeowners that you get the refrigerator, dishwasher, stove, etc. But what about the washer and dryer? That stand-up freezer you want? Those additions can cost you a pretty penny (and unless you want to frequent a laundromat or go to the grocery every day, need to happen fairly soon after moving in). And not to mention when the appliances break and need to be fixed or replaced.

Lawn care.

Unless you purchased an apartment, condo, or houseboat, you’re going to have a new yard to take care of. That wide open space, grilling patio, and pool all seemed like wonderful, relaxing ideas until you realized just how much upkeep things really are. You can opt to buy a mower and weed whacker to save money so long as you have the time, or you can pay someone to take care of the yard work every week.

Pool Costs.

Lord help you if your new home has a pool. Expect to spend about $100 per month for supplies. That is not counting the “pool guy”.

Owning a home can be a wonderful thing, but every buyer needs to be aware of all of the costs that can add up after purchasing—those hidden costs you don’t always think of!

Other Hidden Costs

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